MADRID, April 19. (EUROPEAN PRESS) –

The company dedicated to home delivery of food Just Eat Takeaway.com recorded a turnover of 6.655 million euros in the first quarter of this year, which is equivalent to a decrease of 7.7%, as shown by the company on Wednesday.

“Just Eat continues to recover from last year’s slowdown, with its Northern Europe, UK and Ireland divisions leading the way,” said the company’s CEO, Jitse Groen.

“Even though the gross transaction value decreased [GTV, por sus siglas en inglés] quite large, compared to the quarter that recorded the second-highest pandemic GTV”, he explained.

On the other hand, the number of orders between January and March on the platform contracted by 13.5%, reaching 227.8 million orders. In North America it fell 17.3%, and remained at 74.1 million, while in Northern Europe 69.1 million orders were registered. This figure is 9.4% lower than the first quarter of 2022.

In the UK and Ireland fewer orders were also recorded, 11.4%, in particular, and 59.9 million were completed. Likewise in Southern Europe, Australia and New Zealand, which decreased by 17.7%, receiving 24.7 million orders.

Looking ahead to 2023, Just Eat has raised its estimated adjusted gross operating profit by 50 million euros, to 275 million euros. After that, billing will drop by 4%, in the most unfavorable scenario, or will grow by 2% in 2023 in the most optimistic scenario. According to forecasts of multinational companies, there will be re-growth “towards the end of the year”.

In addition, a 150 million euro share buyback program will be initiated, which will be used to cover the company’s obligations or, alternatively, will be cancelled. The plan is to start this April 19 and will finish no later than December 2023.

2022 RESULTS

Just Eat recorded a loss of 5.667 million euros in 2022, a figure which is five times higher than the ‘red number’ of 1.044 million recorded in the previous year.

The company later explained that the results largely reflected the $4.6 billion adverse impact of the decline in non-cash goodwill associated with the Grubhub acquisition and Just Eat merger driven by macroeconomic factors, such as rising interest rates, as well as a $275 million book loss. from the sale of its shares in iFood.

In this way, the multinational highlighted that, excluding this atypical impact, the loss at the end of the year was 792 million euros compared to a negative result of 990 million euros in 2021.

Likewise, the company underlined a substantial increase in its adjusted gross operating result, which in 2022 reached a positive figure of 19 million euros, compared to a negative figure of 350 million in 2021.

“In 2022, our priority will be increasing profitability and strengthening our business. As a result, we substantially improved our financial performance and generated adjusted Ebitda of €19 million in 2022 compared to minus €350 million in 2021,” Groen highlighted.

On the other hand, multinational consolidated revenue was 5.561 million euros in the year, 23.7% higher than the previous year, while, excluding discontinued businesses, the figure was 5.559 million euros in 2022, 4% higher.

Specifically, annual revenue grew by 3% in North America, to 2.552 million, and 9% in Northern Europe, to 1.155 million, while in the UK and Ireland it increased by 6%, to 1.319 million. In Southern Europe and Australia and New Zealand, revenue recorded this year by Just Eat fell 3%, to 532 million.

In that year, the platform processed 984 million orders, 9% less, out of a total of 90 million active consumers, compared to 99 million in 2021, for an average amount per order of 28.66 euros compared to 25.94 euros in previously. .